PIMCO holds final close for Commercial Real Estate Debt Fund II at $3b

PIMCO has held a final close at $3 billion for its Commercial Real Estate Debt Fund II.

The fund will construct a defensive and diversified portfolio composed mainly of first mortgage loans secured by U.S. commercial real estate (CRE) assets, though it will also to a lesser extent make similar investments in other developed markets, including Europe.

The fund plans to originate and/or acquire primarily U.S. senior CRE first mortgage loans and other CRE-related securities or assets, including mezzanine loans, preferred equity, B-notes, structured investments and special situations.

The first vintage of the series, PIMCO Commercial Real Estate Debt Fund, closed in February 2020 with approximately $1.25 billion of committed capital.

For more information about this fund and others, visit the IREI.Q database.